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Jun 10 - 11:55 PM

GBP/USD - Negative Signals, But Cross Flows Support

By Andrew M Spencer  —  Jun 10 - 08:30 PM
  • Steady- closed +0.05% with the USD +0.2%; supported by EUR/GBP -0.4% selling

  • PM Sunak will unveil the Conservative Party election manifesto today

  • He promises the kind of financial security the Labour Party cannot provide.

  • Financial security is a big promise after the recent UK political turbulence

  • Charts; daily momentum studies crest-fall - 21-day Bollinger bands contract

  • 5, 10 & 21-day moving averages conflict - daily signals are now neutral

  • A sustained break of 1.2680 May 30th base would be a bearish signal

  • 1.2820 upper 21-day Bolli and 1.2825 June high are the first resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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